European Payments Union

HC Deb 13 June 1950 vol 476 cc34-5

68. Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer if he will make a statement on the terms of settlement to be adopted under the European Payments Union.

Sir S. Cripps

I regret that I am not yet in a position to make a statement, since these matters are still under discussion in the Organisation for European Economic Co-operation.

Colonel Crosthwaite-Eyre

In view of the importance of the subject, will the Chancellor of the Exchequer give an undertaking to make a statement at the earliest possible moment? Could he further give an assurance that no further releases from blocked sterling balances will be made as part of any arrangements under this plan?

Sir S. Cripps

No, certainly not. We cannot bind ourselves on any matters of this kind if we want to arrive at an arrangement with other countries, but I shall certainly make an announcement to the House at the earliest possible moment.